The winners and losers of the economic crisis
Massive staff cuts, production interruptions, budget cut offs and rethinking of future strategies. These are just some of the headlines of the economic crisis that we are facing at the moment. We all have do deal with one of the crisis problems at one point, some of us did and some of us will, it’s just a matter of time.
With this article I want to present to you business opportunities, domains that are not suffering because of the crisis. And business domains that collapsed and in the next couple of years we won’t see a comeback.
So, let’s start with the businesses that are doing pretty well in this period:
Entertainment - This industry was not hit as hard as it was thought. Here we can talk here about pubs, fast foods, movies, coffee shops. Because of all the bad news about the crisis and wars at TV people prefer to go and relax with friends at a coffee shop or at a movie. Also people can’t afford now to go to medium or high class restaurants so they prefer fast foods.
Business Consultancy - Especially juridical. It’s a domain that makes good profits during the crisis. Because of the economical conjuncture, litigations appear between business partners and they need juridical consultancy to pass over these problems.
Online businesses – This type of businesses doesn’t seem to be very affected by the crisis. They have two major advantages: they keep their costs to a minimum and they represent the future in commerce so customers prefer these types of shops.
Luxury - Planes, diamonds, expensive cars. In some parts of the word these luxury items are sold better than ever. All luxury clothing sold better this year. All the brads reported increases in sales and profits.
Now we move onto the loser’s category:
Real estate - It totally collapsed no good news. Financing is hard to get and no one buys anything any more.
Auto Industry - Sales dropped by half. GM reported a drop with 45 % of sales on the American market. Renault fired over 6000 employees in this period. Porsche announced a drop by 39 % of sales. So, I would not suggest starting a business complementary to the auto industry. Maybe just car service could have some success because people will need service to their old cars in the conditions that they are not buying new ones.
Start-ups - in any domain you want to start a new business it will be very hard to find financing, banks are very exigent at the moment.
With this article I want to present to you business opportunities, domains that are not suffering because of the crisis. And business domains that collapsed and in the next couple of years we won’t see a comeback.
So, let’s start with the businesses that are doing pretty well in this period:
Entertainment - This industry was not hit as hard as it was thought. Here we can talk here about pubs, fast foods, movies, coffee shops. Because of all the bad news about the crisis and wars at TV people prefer to go and relax with friends at a coffee shop or at a movie. Also people can’t afford now to go to medium or high class restaurants so they prefer fast foods.
Business Consultancy - Especially juridical. It’s a domain that makes good profits during the crisis. Because of the economical conjuncture, litigations appear between business partners and they need juridical consultancy to pass over these problems.
Online businesses – This type of businesses doesn’t seem to be very affected by the crisis. They have two major advantages: they keep their costs to a minimum and they represent the future in commerce so customers prefer these types of shops.
Luxury - Planes, diamonds, expensive cars. In some parts of the word these luxury items are sold better than ever. All luxury clothing sold better this year. All the brads reported increases in sales and profits.
Now we move onto the loser’s category:
Real estate - It totally collapsed no good news. Financing is hard to get and no one buys anything any more.
Auto Industry - Sales dropped by half. GM reported a drop with 45 % of sales on the American market. Renault fired over 6000 employees in this period. Porsche announced a drop by 39 % of sales. So, I would not suggest starting a business complementary to the auto industry. Maybe just car service could have some success because people will need service to their old cars in the conditions that they are not buying new ones.
Start-ups - in any domain you want to start a new business it will be very hard to find financing, banks are very exigent at the moment.
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